Crypto Currency & The world of Decentralized Casino DApps
Crypto currency is a fairly new thing, it all started about 10 years ago with birth of BItcoin in 2009. Inherently this technology has matured steadily since then and is about to disrupt the conventional financial market by storm. The whole crypto currency market valuation stands about 250 Billion today, having reached an all time high of 829 Billion in January 2017.
A crypto currency is a tradable digital asset or digital form of money, built on blockchain technology that only exists online. ... At its simplest a crypto currency works by logging transactions into a database to work out how much of that currency each individual, or their address is holding.
A DApp is an application where the code runs on a decentralized p2p network. Often, the term DApp refers to Smart Contracts, since these contracts run on the blockchain network, which is decentralized. The user interface or the front-end can be run on any server, while making calls to the back-end.
Dapp & Decentralized Blockchain Casinos:
When talking about a Casino DApp, this means that the front-end can be developed like any other app. However, the backend, or the internal workings of a casino are ran on a decentralized network. Payouts, the random number generator, the algorithms, etc – all of these are coded within the smart contracts which run on the network.
This technology is still in its infancy and it takes time to develop complex casino applications. Right now, most of the offerings are somewhat limited at the moment with most of the available casino DApps offering bare-bones, simple and fun games such as dice, moon/crash, wheel where you can wager selected crypto currency depending on which platform they are attached to: such as Ethereum, Tron, EOS, Waves, Bitcoin etc.
Not all gloom and doom, soon all this are about to change as big leaps are being made by developers, there are some great operators that offer great casino DApp at the moment while always improving, one good example is https://play.goc.network/
which runs under Tron blockchain.
This casino DApp has been 6 months in the making, and currently offers 10 truly beautifully built games: Dice, Big Wheel, Party Dice, Black Jack, Bacarrat, Roullete, Slot, Plinko, FOMO3D & Texas Hold'em.....yes, you hear me right, Texas Hold'em Poker!! PlayGoc is the 1st Tron based casino Dapp that rolled this out, while still having more games in the pipeline: Moon, Cryptoracer, Esport Betting etc. The games UI are exceptional & professional looking, not so cartoonish like most of the other casino Dapps out there.
Currently, the tokens accepted for gamings are Tron based: TRX, PLAY (platform own native token), IGG, SEED, LoveHearts & BitTorrent (BTT). Soon there will be crosschain integration - EOS, ETH, Bitcoin etc. As with most casino Dapps, users will be rewarded with mining token when they play. Over here at PLAYGoc, the mining token is called RWD. It can be traded at the exchange, hold & receive weekly TRX dividends fr the market or one time BURN at the daily RDW Party for a share of that day's house profit.
On top of that, this platform also has a built in exchange: "PLAY MARKET" https://play.goc.network/market
where people can seamlessly buy/sell Tron based tokens without even having to leave the site.
Ever since I discovered this DApp, there's only one word.. WOW!!! I could play for hours & hours long...having so much fun & mining some precious RWD tokens :) I really believe this is one of the best Dapp & wish them doing well
That's it for now. In my next post, I'll get into details why in my mind PLAYGoc ranked as my favorite casino Dapp, my favorite games & my strategies.
P:s Don't just take my word, go and give the site at try. Be your own judge :) https://play.goc.network/
It is strongly recommended that players choose a responsible limit and play within it.
42letters submitted by
everytime I tell someone about ARK, the first things they ask are: how does it compare to the interledger?
and "isn't blocknet doing that?"
do any devs in here know the answers to these questions? (edited) grexx
There's like 30 fucking esports betting tokens but not one actual game using a token for in game currency since that crap card game like 3 years ago... spells of genesis or whatever it was...
Blockchain makes more sense for gaming than anything. You can build a real world economy and eliminate cheating / players artificial finding ways to give their accounts codes because it's all secured by blockchain.
seems like we would see more indie gaming companies testing the waters with ICO's and token/blockchain use kfro
are there any big game publishers on the case? grexx
@42letters Interledger and Blocknet, as well as most others in the space have completely focused on allowing cross chain token transfer like a decentralized exchange or a shapeshift clone. While that is one possible use case for SmartBridge, it is only the beginning. 42letters
thank you @grexx
may I ask for your background and/or relationship to the project? grexx
ARK has 2 major focuses. First, allowing people to easily deploy their own blockchains for whatever purpose they need them for. Making it easier than deploying a SQL database or ordering a pizza.
That is phase one. Being the easiest to deploy and work with blockchain tech on the market with a solid consensus mechanism (our DPoS).
Phase 2 involves full, 2 way communication of not just tokens, but information between blockchains the same way you would use traditional databases. Tokens are just one possible store of information, there are many other things you can do when the blockchains speak the same language and can truly communicate and cross data between one another. piepie
how would this be achievable with current blockchains that aren't based on ark? grexx
We make it super easy to deploy and work and then market to developers and projects looking for blockchain and then once ARKchains are deployed in handfuls of projects, we start discussing ways in which we can share and inter-operate on a level that hasn't been accomplished yet.
Current blockchains not based on ARK would require a hard fork in most cases to be fully compatible, as we have discussed before. But we have already been working on ways around that to do some pretty interesting things without full implementation of SmartBridge.
ARK was originally created because we had ideas for 7-8 specific services we wanted to build for blockchain but we wanted them to be able to communicate between one another and utilize one token for a plethora of services. Lisk couldn't accommodate that functionality so we decided to build it ourselves. Then we realized it could be something a lot bigger than just our 7-8 blockchain services we were considering and we moved our focus to building the platform itself. We still fully intend, once the platform is complete, to develop a handful of core services working on SmartBridge ourselves.
But all of that is for a later date and time.
For now, many of those things need to stay under wraps jakethepanda
I didn't know the @grexx AMA started. grexx
@42letters I'm a board member and creative / strategic adviser I guess you would say. Founding member of Crypti along with Mike, the pre-cursor to Lisk.
Been in blockchain for a while, done some things, have some ideas. You know, just like everyone else in the space.. :joy:
@jakethepanda We are going to try and get our first live stream with DJ, Canna, and I scheduled soon to talk to everyone and answer questions. goldenpepe
Where do the encoded listeners come in if other chains don't hard fork? grexx
Encoded listeners can work with both SmartBridge compatible and non-smartbridge chains and are essentially isolated programs.
They can be coded to do all kinds of things.
If a specific chain that isn't an ARKchain passes a certain type of information, there is no reason we can siphon / read that transactions information and use it to our advantage.
We just can't encode the actual transaction and information being passed in our own proprietary way.
So we can't influence what is being passed or the way it is being passed, but we can still code specific mechanisms to react to the way the chain itself functions.
This is easy with something like Eth where you can do all kinds of things already. For Bitcoin, well Bitcoin really is just a value store with financial transactions so transfer of tokens is mostly what you would be concerned with anyways.
If any of that makes sense. goldenpepe
so an encoded listener is just some off-chain bot that watches different chains and is programmed to do certain things? (edited) grexx
That is part of it. However, I won't go into more detail for now and it will have to wait until we are ready to discuss it more in depth. grexx
Alright, I think I've said enough, I'm going to shut up before I end up getting in trouble. :joy:
plus my son is yelling at me to find him clothes. hylex
hi, can someone link me to the video @dr10 did promoting ark? grexx https://www.youtube.com/watch?v=CgD4WqHJFtU
ARK for BEGINNERS (subtitled) hylex
thanks : ) hylex
really good video :+1: 42letters
do any of the devs visit this slack?
might seem like a silly question in hindsight grexx
our whole team is on Slack but we keep @fixcrypt locked in a closet and only let him out on special occasions... :joy:
Several of those who are usually really active here are traveling to HACKUC which we are sponsoring and then from there to another event we are headline sponsor for
but if you have a question specifically development related, you are more likely to catch them in #development 42letters
i have one more question (for now). would you place Bancor in the same basket as interledger? you mentioned earlier how token exchange is only one aspect of Ark's functionality. in respect of this, would you consider Bancor as only fulfilling this aspect, or does it compete with Ark in any broader way? grexx
Bancor, like many other projects currently being built, focuses pretty much exclusively on the ETH ERC20 ecosystem and trading & liquidity mechanisms within that ETH ecosystem.
Until ETH fixes it's scaling issues and tx volume issues, I don't believe that is a great model. ETH right now can't even handle the volume from 1 hot crowdsale, how will they facilitate volume from all of those ERC20 tokens if they end up being hugely popular and each having millions of transactions happening all of the time? grexx
Everyone is building out this infrastructure for trading these ERC20 tokens but that's not our goal.
We are facilitating companies and projects that want their own dedicated blockchain.
not just a token 42letters
thanks @grexx grexx
We aren't loading up the ARK main network with ass tons of useless speculative trading volume from thousands of tokens for projects that will never amount to a bag of dicks.
If that clears it up, lol. 42letters
what are your thoughts on Eth switching to dPoS this year? won't this solve tx time issue (to some extent)? grexx
No. First, they may or may not transition to PoS at some point in the future.
There is going to be a large fight that happens when the time comes.
I'm not certain it won't end up causing another fork to even get it implemented.
A lot of mining power has moved to ETH. 42letters
i think if it causes another significant fork, ETH will be in some trouble grexx
ETH is a hot mess.
This is exactly what most people predicted though before they even launched. 42letters
however, if it does move to PoS, how does it position itself compared to Ark in terms of speed time? grexx
It's too much on one blockchain, too much bloat, too much room for error requiring all the nodes to execute contracts on the main chain and with untested code.
There are plenty of blockchains out there functioning on PoS consensus mechanisms.
They can be all different ranges of block times.
The issue isn't block times, its TPS.
They are trying to do too much on one network right now that just can't scale with the demand for these ICO's.
Which ends up halting anyone from doing ANYTHING on the network.
Think about this. If ETH right now were a global payment system and all of your money was in ETH and you used it to pay for your rent, lunch, groceries, ATT bill, etc.
Every time there is an active ICO, you can't buy coffee, groceries, gas, or anything for 3 days.
It's a fundamental problem. 42letters
can the Ark mainnet handle the scale of these ICos? i guess I'm asking how is Ark handling the possibility of bloat on its network if it become ubiquitous grexx
people are ignoring it and assuming Vitalik will solve the problem through a combination of PoS, Sharding, or some other magical method.
The ARK main net would never try.
We would build a secondary blockchain that would process ICO's and be a token chain that could then implement a master node structure and maintain 5-6 sub networks that would load share and use SmartBridge to gain cross-chain transaction consensus. 42letters
Oh, I think I'm seeing the broader picture here
Because of Smartbridge, you can have sidechains process load heavy transactions and then have them connect/communicate with the mainnet via these listening nodes (or whatever you called them earlier)
Is that the gist? grexx
That's the idea. There is a lot more to it and making it work but that's the ultimate goal. 42letters
Smartbridge is the central tech here grexx
Every application or service we want to work with ARK would be built as it's own chain that would be able to accept ARK or cross-communicate, but the majority of the heavy loading would be done by the subchains.
The ARK mainnet will be focused 100% on maximizing tx volume and TPS of the core ARK token.
then we replicate that and add in additional functions and features for what we need the subchain to do.
all will be push button deployable and open source to encourage thousands of implementations for anything your can dream up. 42letters
that's an incredible value proposition. i hope it's feasible haha grexx
It's not going to be easy to build and it will take time, but it is feasible. 42letters
I wish I was a developer so I could help grexx
We have something like $30 million in assets, an amazing open source community and new developers tinkering around with the code all the time, and a core team of over 20 members who are all still here busting their ass daily.
I like our chances. 42letters
yes the community is very promising grexx
The whole industry is an experiment and could collapse at any moment with one major flaw or issue in bitcoin or ethereum, but for now, it's a hell of a lot of fun to be a part of. 42letters
if eth and btc collapse, wouldn't something like ark bring the markets resurgence with its proposed fixes? grexx
There is too much money in BTC and ETH.
If either one were to completely collapse, it would take the industry years to rebound if it ever even could. 42letters
i see what you mean
the finances would dry up and halt many projects grexx
The investors would flee back to Gold, Stocks, FIAT, development funds would dry up, interest would wane, and the market would screech to a halt.
Like it or not, we need them both.
It has to be a slow steady decline and transition to new tech like it has been with Eth taking market share from Bitcoin. 42letters
Over time, I think the market share will spread between a lot of projects until we don't even think about anyone being truly dominate but all necessary for the ecosystem to exist. 42letters
i hope so grexx
Alright, I am leaving for real this time. I still have family in town for the rest of this week, just wanted to jump on since we are a little thin right now with a lot of our guys traveling.
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